UTU on CPR's U.S. subsidiary ratifies contract settlement
29 Maggio 2004 - 1:01AM
PR Newswire (US)
UTU on CPR's U.S. subsidiary ratifies contract settlement
MINNEAPOLIS, MN, May 28 /PRNewswire-FirstCall/ -- Canadian Pacific
Railway (TSX/NYSE: CP) today announced its Soo Line Railroad
subsidiary has reached a five-year contract agreement with the
United Transportation Union. About 500 train service employees work
under the UTU contract and are the largest group of employees on
the Soo Line. The American Train Dispatchers Association and the
Brotherhood of Railroad Signalmen have also ratified settlements
with the Soo Line in the past 30 days. The five-year agreement with
the UTU replaces a contract that opened for re-negotiation at the
end of 1999. It includes provisions for a general wage increase,
benefits plan cost containment and benefit design changes,
enhancements to the 401(k) Defined Contribution Plan and work rule
modifications. Settlements are now in place for more than 50
percent of the unionized workforce on the Soo Line . Canadian
Pacific Railway, recognized internationally for its scheduled
railway operations, is a transcontinental carrier operating in
Canada and the U.S. Its 14,000-mile rail network serves the
principal centers of Canada from Montreal to Vancouver, and the
U.S. Northeast and Midwest. CPR feeds directly into America's
heartland from the East and West coasts. Alliances with other
carriers extend its market reach throughout the U.S. and into
Mexico. Canadian Pacific Logistics Solutions provides logistics and
supply chain expertise worldwide. For more information, visit CPR's
Web site at http://www.cpr.ca/ DATASOURCE: Canadian Pacific Railway
CONTACT: Laura Baenen, Canadian Pacific Railway, 612-851-5659
office, 612-799-0831 cell
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